What was the income tax amount for Bimbo Foods Bakeries Distribution in 2024?
Bimbo_Foods_Bakeries_Distribution Franchise · 2025 FDDAnswer from 2025 FDD Document
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| | 2024 | 2023 | 2022 | |---|---|---|---| | Income tax: | | | | | Current income tax | $7,825 | $9,462 | $9,938 | | Deferred income tax and other items | (1,028) | (1,076) | 4,443 | | | $6,797 | $8,386 | $14,381 | | as follows: | | | | |---|---|---|---| | | 2024 | 2023 | 2022 | | Profit before income tax anddiscontinued | | | | | operations | $21,034 | $25,324 | $45,878 | | (Loss)/profit before income taxfrom | | | | | Discontinuedoperations | (277) | (23) | 23,516 | | Profit before income tax | 20,757 | 25,301 | 69,394 | | Statutory income tax rate | 30% | 30% | 30% | | Income tax at statutory tax rate | 6,227 | 7,591 | 20,818 |
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Source: Item 14 — Other Accounts Payable and Accrued Liabilities (FDD pages 312–476)
What This Means (2025 FDD)
According to Bimbo Foods Bakeries Distribution's 2025 Franchise Disclosure Document, the total income tax for 2024 was $6,797. This amount is derived from two components: current income tax of $7,825 and deferred income tax and other items totaling $(1,028).
It's important to note that the statutory income tax rate for 2024 was 30%. Applying this rate to the profit before income tax of $20,757 would result in an income tax amount of $6,227. The difference between this calculated amount and the actual income tax reflects other factors influencing the final tax liability.
Prospective franchisees should understand that income tax figures can fluctuate based on various factors, including changes in tax laws, business operations, and accounting practices. Reviewing these figures over multiple years, as presented in the table, provides a more comprehensive understanding of Bimbo Foods Bakeries Distribution's tax obligations. Understanding these tax implications can help a franchisee better assess the financial health and stability of the company.